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China's yuan was mostly flat against the dollar on Friday after a sharp rally earlier in the week. The PBOC set its midpoint fix at a 5-1/2 month high, firmer than market projections.
Investors were awaiting November purchasing managers index data.
With the yuan consolidating, there is no new currency-driven change to China's import demand or to dollar-priced commodities. Attention shifts to the PMI as the next signal for Chinese feed demand.
brecorder.comReutersNov 27, 2023After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
